TVO Market Barometer 3/31/15

Trading Licks

TVO MB 3-31-15b

In Monday’s advance, TVO picked up overall sinking volume (not a good sign for the bulls), and today the distribution that followed was decisive across the board according to volume, with even the mighty NASDAQ showing signs of breaking down. The damage has been done and it’s looking like even 3 days straight of heavy volume accumulation couldn’t stop the oscillator from reversing towards the negative at this point. So that means that we’ll be on the lookout for a 2nd long signal depending on how deep this hole goes down from here. So what about our initial SPY calls? Fortunately we realize the importance of limiting risk with options, so even though a dark cloud seems to have descended (not to mention the exponential increase of « The End of the Bull Market » blogs out there), we’re prepared to tune out the noise and stay the course. -MD

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